Libra Association Names Stuart Levey as CEO Ahead of Regulatory Push

The Libra Association, the group behind the proposed digital currency invented by Facebook Inc., named former U.S. Treasury Department official Stuart Levey as its first chief executive officer.

Levey has been chief legal officer at London-based bank HSBC Holdings Plc since 2012. As leader of the Libra Association, he will work with global regulators to push the project forward -- a daunting task that already led the group to revise its plans for releasing a digital coin. The association is currently working with regulators in Europe and the U.S. to obtain the necessary payment licenses.